Money laundering and the financing of terrorism - European Union Committee Contents

Supplementary memorandum (4) by the Home Office, on SARs

1.  Which other EU Member States maintain a database of SARs?

All EU Member States' Financial Intelligence Units (FIUs) maintain a financial intelligence database of suspicious activity or suspicious transaction reports (STRs).

  2.  What exchange of information is available to law enforcement or other agencies in other EU countries?

  FIUs in the EU and elsewhere can only request a check with another FIU [FIU to FIU] if they meet strict criteria eg the check is for a financial investigation, such as money laundering or terrorist financing, and the country in question is believed to feature in the investigation. Overseas FIUs do not have direct access to the UKFIU database, ELMER.

  All exchange with other FIUs is made on the basis of the Egmont statement of principles of information exchange. Conditions of use are placed on information exchange, for example, no onward transmission without the originators' approval. Information supplied by the UKFIU is also subject to a risk assessment on the content of any reply before its release, which may limit the information provided.

June 2009

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